{"id":16545,"date":"2022-11-17T12:57:05","date_gmt":"2022-11-17T07:27:05","guid":{"rendered":"https:\/\/www.ixambee.com\/blog\/?p=16545"},"modified":"2022-11-21T12:22:55","modified_gmt":"2022-11-21T06:52:55","slug":"india-holds-the-g20-baton-fufag-comes-to-india","status":"publish","type":"post","link":"https:\/\/blog.ixambee.com\/india-holds-the-g20-baton-fufag-comes-to-india","title":{"rendered":"India Holds the G20 Baton (FufaG comes to India!!)\u00a0"},"content":{"rendered":"\n<p>India is a land of G\u2019s, we have Parle G, Pandey G, Modi G, and above all FufaG. And the newest addition among these is G20. India has taken the presidency of the <a href=\"https:\/\/www.g20.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">G20 Summit<\/a> from Indonesia for the year 2023.&nbsp;&nbsp;<\/p>\n\n\n\n<p>One may say, are there any relatives of G20 and the answer would be yes! Let\u2019s look at these groupings briefly&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>India is not a member of the G8.<\/li><li>When Russia was expelled from G8, it became <a href=\"https:\/\/www.g7germany.de\/g7-en\" target=\"_blank\" rel=\"noreferrer noopener\">G7<\/a> (Rich club which excludes China, South Korea etc.&nbsp;&nbsp;&nbsp;&nbsp;<\/li><li>G12 has not 12 but 13 countries.<\/li><li>G4 contains giants of western Europe including the UK, Germany, France and Italy.&nbsp;<\/li><li>G6 is a political grouping of the EU. It has become G5 after the UK left in 2020.<\/li><\/ul>\n\n\n<figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"675\" src=\"https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"India Holds the G20 Baton\" style=\"object-fit:cover;\" srcset=\"https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16.png 1200w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16-300x169.png 300w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16-1024x576.png 1024w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16-768x432.png 768w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16-696x392.png 696w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16-1068x601.png 1068w, https:\/\/blog.ixambee.com\/wp-content\/uploads\/2022\/11\/3-16-747x420.png 747w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n<h2 class=\"wp-block-heading\"><strong>Other distant relatives of G20&nbsp;&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>E7 is a grouping of emerging economies including India, China, Brazil, Turkey, etc. The term was given by economists from Pwc. However, it doesn\u2019t meet as a grouping like G20 (<em>ye wo ristedar h jo result wale din phone karte hai<\/em>).&nbsp;&nbsp;<\/li><li><a href=\"https:\/\/www.un.org\/securitycouncil\/\" target=\"_blank\" rel=\"noreferrer noopener\">P5<\/a> (It is the most powerful relative here). It is the name given to the permanent members of the security council.&nbsp;<\/li><li>G4 (He is Arjun Tendulkar who wants to be P5). It is a grouping of Brazil, Germany, Japan, and India. They want the expansion of the security council and support each other\u2019s claim. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What makes G20 different from its relatives <\/strong><\/h2>\n\n\n\n<p>(aise kya hai isme jo hum padh rahe hai?)&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>As opposed to G7, it includes both developed and developing or emerging economies&nbsp;&nbsp;<\/li><li>It includes countries from the East and the West.<\/li><li>Unlike P5, it is not limited and includes 20 countries (unlike G12 which has 13).&nbsp;<\/li><li>It was founded in 1999 after the Asian financial crisis. Its importance of it can be attached to the Global economic recession coming in 2023.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How does G20 function?&nbsp;&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>The G20 was upgraded to the level of Heads of State\/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the \u201cpremier forum for international economic cooperation\u201d. (Modi Ji will shake hands with his best pals across continents).<\/li><li>The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track while Sherpas lead the Sherpa Track. (Fun fact by Topper Naina \u2013 Mr. Amitabh Kant is a G20 sherpa. He was earlier CEO of <a href=\"https:\/\/www.niti.gov.in\/\" target=\"_blank\" rel=\"noreferrer noopener\">NITI Aayog<\/a>).<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why is Modiji So Happy About It: Opportunities and Challenges<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Russia \u2013 Ukraine conflict&nbsp;<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>In this conflict, on one side we have Russia, China and Iran. On the other side, we have the US-led western world. Any treaty seems distant as the two sides don\u2019t trust each other. <\/li><li>India is an old ally of Russia (Remember the Indo\u2013Soviet Treaty of Peace, Friendship and Cooperation signed in 1971 which was crucial in Indo \u2013 Pak war of 1971). India is also an ally of the US as it is a member of Quad.&nbsp;<\/li><li>India can bridge the trust deficit and help broker a peace treaty.&nbsp;&nbsp;Recently PM Modi intervened by saying \u201cthis is not an era of war\u201d&nbsp;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Global recession&nbsp;&nbsp;<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Among the global recession in major economies including UK and Germany, India is expected to grow by 6.5 % in FY 2022-23 as per World bank estimates. <\/li><li>India can project it as a hotspot of FDI. Investors will find better opportunities.&nbsp;&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Rule based global order&nbsp;&nbsp;<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>As opposed to China\u2019s view (hum jahan khade hote hain, lain wahi se shuru hoti hai), India favors rule based global order.&nbsp;&nbsp;<\/li><li>It supports UNCLOS (disregarded by China in South China sea), international institutions like WHO and UN.&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Champion of Environment <\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Topper Naina points \u201cone Earth\u201d is present in emblem of G20 summit launched by government&nbsp;&nbsp;<\/li><li>India has its own ambitious plans towards climate change adaptation and mitigation which include INDC, ISA, Green hydrogen policy, Ethanol blending, electric vehicles etc.&nbsp;&nbsp;<\/li><li>India\u2019s efforts in this area were acclaimed by global organizations including the World bank.&nbsp;&nbsp;&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Unanimous voice in stopping terrorism<\/strong>&nbsp;&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>India has been opposing politicization of UN 1267 committee&nbsp;&nbsp;<\/li><li>India can use this opportunity to create awareness and bring countries together to fight terrorism&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Does India Hope to Achieve Finally?&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>The theme of India\u2019s G20 Presidency &#8211; \u201cVasudhaiva Kutumbakam\u201d or \u201cOne Earth One Family One Future\u201d. India wants the world to understand this.&nbsp;&nbsp;<\/li><li>Emerge globally as a respected, influential and responsible power. This assumes importance when India is celebrating \u201c<a href=\"https:\/\/amritmahotsav.nic.in\/\" target=\"_blank\" rel=\"noreferrer noopener\">Azadi ka Amrit Mahotsav<\/a> (75<sup>th<\/sup> year of independence)&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>To help you prepare 50% faster for competitive exams, ixamBee provides <strong><a href=\"https:\/\/www.ixambee.com\/free-mock-tests\" target=\"_blank\" rel=\"noreferrer noopener\">free Mock Test Series<\/a><\/strong>&nbsp;all the <a href=\"https:\/\/www.ixambee.com\/beepedia-gk-updates-capsule?utm_source=ixamBee&amp;utm_medium=header&amp;utm_campaign=beepedia\" target=\"_blank\" rel=\"noreferrer noopener\">Current Affairs in English<\/a> and <a href=\"https:\/\/www.ixambee.com\/hi\/beepedia-gk-updates-capsule\" target=\"_blank\" rel=\"noreferrer noopener\">Current Affairs in Hindi<\/a> in the&nbsp;BeePedia capsules for GA Preparation. You can also get the latest updates for&nbsp;Bank PO,&nbsp;Bank Clerk, SSC, RBI &nbsp;NABARD&nbsp;and Other&nbsp;Government Jobs.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Also Read<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.ixambee.com\/blog\/rbi-and-its-currency-management\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>RBI and Currency Management<\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ixambee.com\/blog\/saarthi-app-by-sebi-to-educate-investors\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>All About Saarthi App<\/strong><\/a><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.ixambee.com\/blog\/blockchain-technology-the-new-future-of-the-globalized-world\" target=\"_blank\" rel=\"noreferrer noopener\">Blockchain Technology \u2013 The New Future Of The Globalized World<\/a><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ixambee.com\/exams\/rbi-grade-b-salary\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>RBI Grade B Salary 2023<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India is a land of G\u2019s, we have Parle G, Pandey G, Modi G, and above all FufaG. And the newest addition among these is G20. India has taken the presidency of the G20 Summit from Indonesia for the year 2023.&nbsp;&nbsp; One may say, are there any relatives of G20 and the answer would be [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":16551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,8,6,876,1063,329],"tags":[83,268,1119,1120,304,281],"class_list":["post-16545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","category-daily-gk","category-exams","category-general-awareness","category-government-jobs-exams","category-static-g-k","tag-bank-exams","tag-current-affairs","tag-g20-summit","tag-g20-summit-2022","tag-general-awareness","tag-government-exams-preparation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India Holds the G20 Baton<\/title>\n<meta name=\"description\" content=\"India Holds the G20 Baton. 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